Traders, Analysts “A Bit Surprised” Yellen Wasn’t More Dovish

To be sure, "volatile" is a relative term these days. But that's how some traders are describing what we saw in equities during Yellen's presser. No one seems quite sure how to interpret the messaging and indeed, it's not 100% clear that the committee did indeed deliver the "dovish" slant on the hike that many suggested would be absolutely necessary following this morning's lackluster inflation data. Whatever the case, the dollar recovered some of its morning losses and Treasury yields ticked